Sweden's Heikensten on monetary policy

In a speech on 'Introduction on monetary policy' given on 15 March, Lars Heikensten of the Sveriges Riksbank told the government's finance committee that the board left interest rates unchanged because too much emphasis had recently been placed on the power of monetary policy to control growth and unemployment.

"What is important to realize is that there are always going to be fast changes in the economy and inflation that cannot be foreseen nor fully offset in the short run," he said. "No

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